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    US Project Operator Lines up FInance


The financing was more than twice over-subscribed on the project, which has already broken ground.

by: William Powell

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US Project Operator Lines up FInance

US export project developer Venture Global LNG has found financial backers for its $5.8bn, 10mn metric tons/yr Calcasieu Pass terminal, it said July 18.

The issue was oversubscribed, attracting over $10bn in binding commitments from international lenders in North America, Asia and Europe. The money will go on the construction and commissioning of the Calcasieu Pass facility and the associated TransCameron pipeline.

Venture said it was "incredibly proud that the world’s leading project finance institutions have responded with such a validation of the quality of our structure and partners with outstanding terms and a significant oversubscription. The company has now secured more than $8.6bn of capital and is continuing full construction and fabrication activity at Calcasieu Pass.”

The facility will employ "highly efficient mid-scale, modular, factory-fabricated liquefaction trains," Venture said.  "Calcasieu Pass has received all necessary permits, including Federal Energy Regulatory Commission authorisation and Non-FTA export authorisation from the US Department of Energy. Building work on the site is in full swing. It has not however formally yet announced final investment decision. Global LNG is also developing the 20mn mt/yr Plaquemines LNG project and the 20mn mt/yr Delta LNG project, both in Plaquemines Parish, Louisiana.